Share
The non-fungible token market has seen a major downturn as Bitcoin declined 4% over the past week to $94,000 and Ethereum retreated to $3,300.
According to the latest data from CryptoSlam, the NFT market has seen a substantial correction: total sales volume plummeted 49.77% this past week to $152.7 million.
Despite the sharp decline in trading volume, market participation metrics show continued interest from new and existing traders.
The Ethereum (ETH) NFT blockchain has seen its sales fall 62% to $75.3 million. Despite the volume decline, the network has seen 63,054 buyers, which is a 42.91% increase. Wash trading has also decreased significantly by 80.04% to $21.6 million.
The Bitcoin (BTC) NFT ecosystem follows a similar pattern with a 30% decrease in sales to $28.0 million. However, the network shows strong user growth with 59,311 buyers, marking a 52.13% increase from the previous period.
Solana (SOL) maintained its third position despite a 58.71% decline to $13.9 million in sales. The network continues to show strong user engagement with 180,111 buyers, which is a 68.43% increase.
Mythos Chain and ImmutableX (IMX) have shown resilience, with Mythos Chain posting a modest 4.38% increase to $11.4 million and Immutable growing by 15.93% to $8.1 million in sales.
Pudgy Penguins has seen a major reversal, with sales plummeting 76.65% to $12.6 million. The project has experienced decreases across all metrics, with transactions down 71.82% and buyer participation falling 69.92%.
Azuki jumped to second place with $9.3 million in sales, despite a 41.94% decrease. BRC-20 NFTs fell to third position with $6.5 million in sales, showing a 30.68% decline.
DMarket and Guild of Guardians Heroes complete the top five, with DMarket showing growth of 8.96% and Guild of Guardians Heroes increasing by 22.23%.
Notable individual sales this week include:
Global cryptocurrency market capitalization has declined to $3.29 trillion from $3.41 trillion last week, highlighting a prevailing bearish trend across the market.
Read more about
Deep Dives
What does 2025 have in store for crypto and digital assets? | Opinion
Top five blockchain analytics trends for 2025 | Opinion
Is there a crypto thaw in Russia and why?
African crypto revolution continues as Ethiopia ranks among global BTC mining leaders
Top 5 reasons why Ethereum could take off in 2025Â
Cardano co-founder explores Delimited continuations: What does it mean for Cardano?Â
The gaming industry can finally solve its biggest problem | Opinion
Crypto whales: Friends or foes?
2024’s loyalty overhaul: Blockchain’s promise for brands | Opinion
Bitcoin expectations for 2025 plus crypto updates from around the globe | Weekly Recap
Related News
Eric Trump and Michael Saylor meet up at Trump Mar-A-Lago and discuss Bitcoin
2024 sets on-chain adoption record with $10T transaction milestone
Bitcoin to $225,000? Analysts predict a profitable year for Bitcoin mining stocks
Get crypto market analysis and curated news delivered right to your inbox every week.
You have successfully joined our subscriber list.
